REQUIREDStudy the information provided below and prepare the Cash Flow Statement of Topaz Limited for the year ended 31December 2022.INFORMATIONTOPAZ LIMITEDSTATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 DECEMBER 2022SalesCost of salesGross profitSelling and administrative expensesOperating profitInterest expenseProfit before taxTaxProfit after taxR9 300 000(4 530 000)4 770 000(1 890 000)2 880 000(180 000)2 700 000(720 000)1 980 000 STATEMENT OF FINANCIAL POSITION AS AT 31 DECEMBER:ASSETSNon-current assetsLand and buildingsPlant and machineryInvestmentsCurrent assetsInventoriesAccounts receivableCash and cash equivalentsEQUITY AND LIABILITIESEquityOrdinary share capitalRetained earningsNon-current liabilitiesCurrent liabilitiesAccounts payableCompany tax payableShareholders for dividendsTotal equity and liabilitiesAdditional informationSelling and administrative expenses include the following:Depreciation on buildingsDepreciation on plant and machinery2022R8 400 0004 950 0002 790 000660 0002 430 0001 080 0001 146 000204 00010 830 0007 020 0004 500 0002 520 0001 800 0002 010 0001 080 000360 000570 00010 830 000Property, plant and equipment were purchased during the year but there were no disposals.Total dividends for the year ended 31 December 2022 amounted to R810 000.750 000 ordinary shares were issued by the company.1All purchases and sales of inventories were on credit.!The market price of each Topaz Limited share was R10 on 31 December 2022.2021R6.600 0004 230 0002 370 00002 040 0001 140 000720 000180 0008 640 0005 850 0004 500 0001 350 000900 0001 890 0001 260 000180 000450 0008 640 000R270 000R450 000

It is important in the business entity to prepare the Cash flow statement which can be determine the…

Additional information Selling and administrative expenses include the following: Depreciation on buildings Depreciation on plant and machinery ! Property, plant and equipment were purchased during the year but there were no disposals. Total dividends for the year ended 31 December 2022 amounted to R810 000. : 750 000 ordinary shares were issued by the company. All purchases and sales of inventories were on credit. The market price of each Topaz Limited share was R10 on 31 December 2022. R270 000 R450 000

Additional information Selling and administrative expenses include the following: Depreciation on buildings Depreciation on plant and machinery ! Property, plant and equipment were purchased during the year but there were no disposals. Total dividends for the year ended 31 December 2022 amounted to R810 000. : 750 000 ordinary shares were issued by the company. All purchases and sales of inventories were on credit. The market price of each Topaz Limited share was R10 on 31 December 2022. R270 000 R450 000

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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